The global rice wine market size is set to exhibit potential growth due to the increasing popularity of rice wine in western regions, states Fortune Business Insights™ in an upcoming report, titled, “Rice Wine Market Size, Share and Industry Analysis, By Type (Sake Wine, Huangjiu Wine, Makgeolli Wine, Ruou gao Wine), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retail) and Regional Forecast, 2020-2027.” The growing awareness regarding the nutritional properties of rice wine, such as essential amino acids, vitamins, and minerals, is expected to drive the demand for this product.
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Highlights of the Report:
The report includes detailed information about crucial factors that are influencing the growth of the market such as drivers, restraints, and opportunities. One of the key aspects of this report was to define, segment, and forecast the size of the market on the basis of type, distribution channel, and geography. The research methodology includes identification of major regions along with countries contributing to the maximum share and secondary research to find the value of ingredients for regions such as North America, Europe, and Asia-Pacific.
Drivers and Restraints-
Increasing Popularity of Rice Wine in Western Regions to Drive Growth
The prevailing inclination of people toward traditionally brewed drinks in the western part of the world and the rising popularity of rice wine among people in these regions are expected to drive the growth of the global rice wine market. In addition, the increasing utilization of rice wine in various food products including beer, yogurt, and chocolate is expected to further drive growth. However, the dominant presence of fruit-derived wine in the market is estimated to hinder growth.
Presence of Major Manufacturers to Help Asia Pacific Dominate
Asia Pacific is projected to lead the global rice wine market owing to the presence of major manufacturers in the region. Countries including Japan, China, and Korea are the major producers, as well as major consumers of the product as rice wine is often associated with the culture and eating and drinking habits of people in these countries. In addition, due to the Geographical Indications (GI) deal between China and Europe, the former is set to introduce its most ancient wines in the European market. This is anticipated to further enhance growth.
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The Europe rice wine market is anticipated to showcase significant growth in the upcoming years owing to the increasing demand for the product in countries including the U.K., Germany, and France. The increasing demand, coupled with the scaling availability is expected to strengthen the demand for rice wine in the region.
Launching Innovative Products to Help Key Players Expand their Shares
The global market for rice wine comprises various manufacturers that are consistently expanding their presence across regions. They are focusing on launching innovative products in key markets in order to successfully expand their shares. For Instance, in March 2020, Nestle Japan launched Yogurt Sake, a new variant of KitKat that contains 0.5% of.
- In January 2020, Hiro Sake, a premium sake manufacturing brand from Japan, launched its first single serve glass cup sake in Southern Florida. With this, the company is planning to expand its distribution across the U.S. and Australia.
- In June 2019, TYKU Sake, a company based in the U.S. that specializes in manufacturing sake, launched its cucumber infused sake in a can. TYKU cucumber is a refreshing alternative to white wine and rose wine.
A List of Key Manufacturers Operating In the Global Rice Wine Market Report:
- Kuaijishan Shaoxing Rice Wine Company
- Takara Holdings Inc.
- Asahishuzo Co. Ltd.
- Kook Soon Dang Brewery Co., Ltd.
- Zhejiang Pagoda Brand Shaoxing Rice Wine Co., Ltd.
- Zhejiang Jiashan Yellow Rice Wine
- YAEGAKI Corporation of USA
- Ozeki Saka USA Inc.
- Blue Current Brewery
- Sun Masamune Pty Ltd.
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